When basing decisions on economics, how are lead time, product cost, value and development expense used?
Answers
Answer:
Explanation:
When basing certain decisions in economics, following are the designated ways in which these terms are used,
Lead time is the duration in which the order must be completed. In economics whenever preparing an order this time is like a given time container. It helps to set the target and due date for the order to be finished. It helps determine when to start the order depending on its delivery.
The product cost is the "value of money which needs to be paid against a certain good or service during its production". This is the cost set after looking at the value of a good or service. The product's cost is set by the business. This will determine what sales output will be and what profit will be made. Because cost of product is one of the major determining factors of product demand.
Answer:
Explanation:
to identify different parameters of the economic framework